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completely overblown now you say that the ceiling the debt ceiling is an anachronism based on an idea that the government must raise money from elsewhere before it is able to spend that money why is this this not the case today while the debt ceiling initially was a back to did nine hundred seventeen you know that was a device to facilitate the issuing of bonds for the first world war. since that time we have moved to a system which is. very much a system of what you call what i call money and when the government writes you check your bank simply credits that sum to you or to your balance of the government does not actually. to find the money any way anywhere it simply sends a signal to your bank and the body appears now why do you believe the us government will never ever have a problem finding its public expenditures and deficits because the electricity supply to the computers that send those signals will never be cut off it's not simple simple as that every day and they can't be cut off as you see you know now much of the us it's in the form of short term bahrain and that needs to
completely overblown now you say that the ceiling the debt ceiling is an anachronism based on an idea that the government must raise money from elsewhere before it is able to spend that money why is this this not the case today while the debt ceiling initially was a back to did nine hundred seventeen you know that was a device to facilitate the issuing of bonds for the first world war. since that time we have moved to a system which is. very much a system of what you call what i call money and...
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james gall birth sat down with one off in studio to discuss debt ceiling debt crisis and the deficit of knowledge in congress you won't want to miss that it's coming right up but now let's get to the ship. with the holidays just around the corner and we decided to kick off today's headlines with some debt free jubilee now this story it started all a little over one year ago when a group of occupy wall street activists created these strike down debt project known as rolling jubilee today the group has managed to abolish almost fifteen million dollars worth of personal debt now described on its website as a bailout of the people by the people rolling jubilee buys debt for pennies on the dollar but instead of collecting on that debt they don't abolish it now by purchasing the debt are dramatically reduced prices the group has managed to free thousands of people from debts the group has focused on by and mainly medical debt and with spending only four hundred thousand they've acquired fourteen point seven million dollars worth of debt not too shabby. in other news timothy mossad was in c
james gall birth sat down with one off in studio to discuss debt ceiling debt crisis and the deficit of knowledge in congress you won't want to miss that it's coming right up but now let's get to the ship. with the holidays just around the corner and we decided to kick off today's headlines with some debt free jubilee now this story it started all a little over one year ago when a group of occupy wall street activists created these strike down debt project known as rolling jubilee today the...
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completely overblown now you say that the ceiling the debt ceiling is an anachronism based on the idea that the government must raise money from elsewhere before it is able to spend that money why is this this not the case today well the debt ceiling initially was a back to nine hundred seventeen you know that was a device to facilitate the issuing of bonds for the first world war. since that time we have moved to a system which is. very much a system of what you call what i call money and when the government writes you would check your bank simply credits that sum to you or to your balance of the government does not actually. to find the money any way anywhere it simply sends a signal to your bank and the body appears now why do you believe the us government will never ever have a problem finding its public expenditures and deficits because the electricity supply to the computers that send those signals will never be cut off it's not simple simple as that every day and they can't be cut off if you see you know how much of the us debt it's in the form of short term bahrain and that nee
completely overblown now you say that the ceiling the debt ceiling is an anachronism based on the idea that the government must raise money from elsewhere before it is able to spend that money why is this this not the case today well the debt ceiling initially was a back to nine hundred seventeen you know that was a device to facilitate the issuing of bonds for the first world war. since that time we have moved to a system which is. very much a system of what you call what i call money and when...
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ceiling no debt ceiling is stupid because what the debt ceiling you have to go back to the history the debt ceiling the debt ceiling was put into place for world war one and the reason why i was put there was because congress was saying basically to the president we're going to fight a world war we've never done that before we have no idea what is going to cost so here's a relatively blank check a really high and absurdly high number that you can spend up to go for it and it is so from from the one thousand nine hundred spaces when the when the debts it was put into place until the late one nine hundred fifty s. the debt ceiling was always a way of giving the government more elbow room then the republicans got this idea hey we can flip this upside down from its original purpose and use it as a political weapon so now they're saying ok yes we voted for the war in iraq yes we voted for the bush tax cuts yes we voted for the war in afghanistan yes those three things constitute two. thirds of the total the national debt we voted for all that stuff but now we don't want to borrow money to p
ceiling no debt ceiling is stupid because what the debt ceiling you have to go back to the history the debt ceiling the debt ceiling was put into place for world war one and the reason why i was put there was because congress was saying basically to the president we're going to fight a world war we've never done that before we have no idea what is going to cost so here's a relatively blank check a really high and absurdly high number that you can spend up to go for it and it is so from from the...
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completely over the you know you say that the ceiling the debt ceiling is an anachronism based on the idea that the government must raise money from else. where before it is able to spend that money why is this this not the case today while the debt ceiling initially was of acted in nine hundred seventeen and it was a device to facilitate the issuing of bonds for the first world war. since that time we have moved to a system which is. very much a system of what you call what i call fear money and when the the government writes you a check the your bank simply credits that sum to your to your balance so the government does not actually have to find the money anyway anywhere it simply sends a signal to your bank and the money appears now why do you believe the us government will never ever have a problem finding its public expenditures and deficits because the electricity supply to the computers that send those signals will never be cut off it's that simple simple as that every day and they can't be cut off because you see you know now much of the us dead it's in the form of short term
completely over the you know you say that the ceiling the debt ceiling is an anachronism based on the idea that the government must raise money from else. where before it is able to spend that money why is this this not the case today while the debt ceiling initially was of acted in nine hundred seventeen and it was a device to facilitate the issuing of bonds for the first world war. since that time we have moved to a system which is. very much a system of what you call what i call fear money...
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the debt ceiling was. as a way of giving the government more elbow room then the republicans got this idea hey we can flip this upside down from its original purpose and use it as a political weapon so now they're saying ok yes we voted for the war in iraq yes we voted for the bush tax cuts yes we voted for the war in afghanistan yes those three things constitute two thirds of the total debt national debt we voted for all that stuff but now we don't want to borrow money to pay for it and you know and even though they voted for it which is crazy now why haven't we passed a budget since two thousand and nine. well there was this brief window in two thousand and nine before scott brown was sworn into office where president obama had a filibuster proof majority in the senate plus a majority in the house plus he was the president so you could pass a budget ever since then we haven't passed a budget because there's been no agreement between the republicans and democrats about things like should we raise taxes yo
the debt ceiling was. as a way of giving the government more elbow room then the republicans got this idea hey we can flip this upside down from its original purpose and use it as a political weapon so now they're saying ok yes we voted for the war in iraq yes we voted for the bush tax cuts yes we voted for the war in afghanistan yes those three things constitute two thirds of the total debt national debt we voted for all that stuff but now we don't want to borrow money to pay for it and you...
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the debt ceiling is reached the house just recently passed the credit act this was yesterday it was done in a very partisan fashion only one hundred twenty one members voted for it one hundred twenty seven voted against it. the bill would prioritize debt payments this would mean that bondholders would be paid first before making payments for all other government programs so medicare social security the military now do you ever wonder what's going to happen when our interest payments grow so big that we have to make these decisions between paying our creditors and finding a government program and you know it period it is the state of affairs and we have come to the point where we are paying creditors on our debt more than we are figuring out what the hell is going on with this country and our economy. i mean it's just such a sad commentary that we are now focusing on how are we going to get rid of this debt trillions of dollars in debt at the same time ignoring the elephant in the room and it's really a drop in the bucket i hate to say but once again when we're addressing social secu
the debt ceiling is reached the house just recently passed the credit act this was yesterday it was done in a very partisan fashion only one hundred twenty one members voted for it one hundred twenty seven voted against it. the bill would prioritize debt payments this would mean that bondholders would be paid first before making payments for all other government programs so medicare social security the military now do you ever wonder what's going to happen when our interest payments grow so big...
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debt ceiling. >> narrator: early on, republican freshmen attended orientation sessions. republican strategist frank luntz ran one of them. >> and i asked the question, how many of you are going to vote for the debt ceiling? and only three or four of them raised their hands. and i said, if you vote for the debt ceiling, the people who put you in office are going to knock you out. >> if you vote for the debt ceiling, you're voting for your own death certificate, political death certificate. >> narrator: for his part, the president decided to try something new: personal politics. he figured he could connect to the republican leader, john boehner. >> obama told his staff, john boehner is a country club republican, a golf-playing, cigarette smoking deal-maker. >>arrar: t predent invited boehner to play golf with him at andrews air force base. >> and afterward, they go back to the clubhouse, and they're having a drink; there's a photo op. and it's at that point when boehner says to the president, "hey, you know, on this debt ceiling stuff, we ought to do something big." >> nar
debt ceiling. >> narrator: early on, republican freshmen attended orientation sessions. republican strategist frank luntz ran one of them. >> and i asked the question, how many of you are going to vote for the debt ceiling? and only three or four of them raised their hands. and i said, if you vote for the debt ceiling, the people who put you in office are going to knock you out. >> if you vote for the debt ceiling, you're voting for your own death certificate, political death...
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Jan 13, 2013
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that's the debt ceiling. keep it in mind, the treasury does not make decisions about how the money is spent. they're simply empowered in this case to borrow money and write the checks to pay the bills incurred by your democratically elected congress. today the debt ceiling is $16.3 trillion which is less than our debt. the treasury can use extraordinary measures to raise an extra $200 billion. those extra funds will only last until about mid february or early march according to the bipartisan policy center. good luck trying to explain this to conservative talk radio show host, rush limbaugh. >> i think it's a debt limit as your monthly credit card limit. you can't go over it on your credit card. and the united states government can't spend more than what its credit limit is or its debt limit. now ali velshi at cnn says that has no relation to spending. >> that's right, rush, the debt ceiling was create sod the congress wouldn't constantly need to authorize congress to borrow to raise more money. it doesn't au
that's the debt ceiling. keep it in mind, the treasury does not make decisions about how the money is spent. they're simply empowered in this case to borrow money and write the checks to pay the bills incurred by your democratically elected congress. today the debt ceiling is $16.3 trillion which is less than our debt. the treasury can use extraordinary measures to raise an extra $200 billion. those extra funds will only last until about mid february or early march according to the bipartisan...
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ceiling the debt ceiling is kind of sharp and try and quickly before we go because you want to mention it europe it's not over in two thousand and thirteen you say there are still issues you're looking at spain why well you know basically spain has five percent in terms of their a yield right now the deposits are coming back to the banks everything's hunky dory but the reality is that spain has a deficit they're going to continue to have to have funding needs they also have their regions that are locked out of the debt market they also have the banks which have housing prices that are falling and so they're going to need more capital and i'm out of time but you're saying this spells sovereign bailout in two thousand thirteen i think it's a spell solvability not just for spain but potentially for italy as well there you go europe is not over it's not out of the woods not even at all thank you edward harrison founder of credit write downs still ahead because bill gross warns investors about lurking inflationary dragons will discuss his advice in today's lease change and might les miserab
ceiling the debt ceiling is kind of sharp and try and quickly before we go because you want to mention it europe it's not over in two thousand and thirteen you say there are still issues you're looking at spain why well you know basically spain has five percent in terms of their a yield right now the deposits are coming back to the banks everything's hunky dory but the reality is that spain has a deficit they're going to continue to have to have funding needs they also have their regions that...
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Oct 10, 2013
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ceiling and defaulting on our debts. while that is sort of germinating throughout those in the white house, we're waiting for their reaction. wouldn't it be really nice to be able to hear someone stand up in congress and speak from the heart, somebody guided by faith and conscience? wow! guided by principle and not the partisan talking points and the line of the day or the hashtag? there is someone exactly like that. you're about to hear from him. but with the caveat he's not a member. have a listen. >> deliver us from the hypocrisy of attempting to sound reasonable while being unreasonable. forgive them for the blunders they have committed, infusing them with the courage to admit and correct mistakes. today, give our lawmakers the vision and the willingness, remove from them that stubborn pride which imagines itself to be above and beyond criticism. lord, deliver us from governmin by crisis. it's time for our lawmakers to say enough is enough. we pray in your merciful name, amen. amen. amen. amen. >> amen. i'm going to
ceiling and defaulting on our debts. while that is sort of germinating throughout those in the white house, we're waiting for their reaction. wouldn't it be really nice to be able to hear someone stand up in congress and speak from the heart, somebody guided by faith and conscience? wow! guided by principle and not the partisan talking points and the line of the day or the hashtag? there is someone exactly like that. you're about to hear from him. but with the caveat he's not a member. have a...
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just put up a bill to eliminate the debt ceiling what's the purpose of having a debt ceiling if we raise it every time we get to it because nobody wants to vote to eliminate the debt ceiling because they want to pretend that they care about the debt but everybody wants to increase it because they don't want to cut any spending but if you want to look at the markets if the markets are selling off on the false crisis that we might not increase the debt ceiling clearly there's opportunities because we know they're going to increase the debt ceiling but ultimately the biggest crisis not it doesn't come because we fail to raise the debt ceiling but because we do raise it and we repeatedly raise it and that's why the country is broke i think because there actually is some talk about kind of getting rid of the debt limit i mean even if the president were to use the fourteenth amendment solution as speaker the house nancy pelosi has suggested he should do that would kind of by the fall get rid of the debt limit but one last question here about a month ago a baby panda was born at the national zo
just put up a bill to eliminate the debt ceiling what's the purpose of having a debt ceiling if we raise it every time we get to it because nobody wants to vote to eliminate the debt ceiling because they want to pretend that they care about the debt but everybody wants to increase it because they don't want to cut any spending but if you want to look at the markets if the markets are selling off on the false crisis that we might not increase the debt ceiling clearly there's opportunities...
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Jan 12, 2013
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what the debt ceiling allows -- what the debt ceiling allows congress to do is continue to deficit spend. if we would stop incurring deaf zits we wouldn't need to increase the debt ceiling. it's not about paying past bills. you get into the cash flow aspect of this thing. in order to increase the debt ceiling we are actually just basically giving the president the authority to put that debt burden on our children and grandchildren. it's not about spending at all. >> let me ask you a couple questions here. >> deficit spending. >> you said there's no doubt we are not going to default on our payments. the math indicates that if at some point we don't increase the debt ceiling, why won't we? >> our interest payment this year is under $250 billion. we're going to bring in $2.5 trillion in tax revenue, ten times what our interest servicing on the debt is. there are some casual aspects about turning over some debt but basically the only reason we have to increase the debt creeling is because we continue to deficit spend, spending a trillion dollars more than -- >> when you say we continue to de
what the debt ceiling allows -- what the debt ceiling allows congress to do is continue to deficit spend. if we would stop incurring deaf zits we wouldn't need to increase the debt ceiling. it's not about paying past bills. you get into the cash flow aspect of this thing. in order to increase the debt ceiling we are actually just basically giving the president the authority to put that debt burden on our children and grandchildren. it's not about spending at all. >> let me ask you a...
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Dec 17, 2013
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ceiling to prioritize debt payments? >> the issue of whether or not that decision can be made is fundamental to a presidential decision. >> i know, but have you as treasury secretary, your department requested from the office of legal counsel whether or not you can prioritize the? >> i've answered your question. it would be a question between the white house counsel and the justice department because the president -- >> let me point you to the fact that "huffington post" article from last week said the obama a decision to the platinum coin option more seriously than it led on. this idea you have a $1 trillion coin minted and deposited at the federal, at the fed, then draw upon that, it is, according to the "huffington post," the administration did ask the office of legal counsel for this absurd idea to actually be judged whether not it's legal. yet at the same time you will not say that you have asked whether or not you can prioritize payment. that is deeply concerning to me. >> i'm prepared to discuss the possible those
ceiling to prioritize debt payments? >> the issue of whether or not that decision can be made is fundamental to a presidential decision. >> i know, but have you as treasury secretary, your department requested from the office of legal counsel whether or not you can prioritize the? >> i've answered your question. it would be a question between the white house counsel and the justice department because the president -- >> let me point you to the fact that "huffington...
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Oct 11, 2013
10/13
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ceiling increase, there appears to be a real chance that this congress will not pass a debt ceiling increase before october 17th. now, i hope that we do pass a debt ceiling increase with appropriate reforms because there's no question in my mind at some point, if we don't raise the debt ceiling, it will become disruptive. as you know, ongoing tax revenue's only about 85 percent of all the money this government intends to spend in the coming fiscal year. so if we only get 85 percent of everything we intend to spend in tax revenue, the 15 percent shortfall would have to be covered by borrowing, or else we wouldn't be able to pay everything in full and on time. and that would be disrupted. but the greatest disruption by far would occur if you were to choose to not pay interest on our debt. senator cantwell made a very compelling argument about the unique role that u.s. treasury securities play in the world, and for the united states. so my question for you, mr. secretary, as the secretary of the the treasury, are you prepared to assure us, but more importantly, the millions of american
ceiling increase, there appears to be a real chance that this congress will not pass a debt ceiling increase before october 17th. now, i hope that we do pass a debt ceiling increase with appropriate reforms because there's no question in my mind at some point, if we don't raise the debt ceiling, it will become disruptive. as you know, ongoing tax revenue's only about 85 percent of all the money this government intends to spend in the coming fiscal year. so if we only get 85 percent of...
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kick the can down the road on reigning and our ever growing trillion dollar debt the debt ceiling was reinstated on may nineteenth at sixteen point seven trillion dollars which we've already hit currently we're operating under extraordinary measure is it just to keep the government running joining me now as one would brooks of public notice to discuss thanks for having so nice to have you here. so the debt ceiling was head on may nineteenth there hasn't been a lot of talk or discussions about this on capitol hill why is it such a quiet issue right well you know capitol hill they like the way to the last budget and even though they did hit the debt ceiling in the middle of may they have been to around october perhaps to use these extraordinary measures where they are borrowing against the retirement of federal workers and other things just to get by so you know nothing new here in washington you know even though they have time to plan they're really not. think that might change before they go home for the august summer recess but up until this point there's been very little talk on thi
kick the can down the road on reigning and our ever growing trillion dollar debt the debt ceiling was reinstated on may nineteenth at sixteen point seven trillion dollars which we've already hit currently we're operating under extraordinary measure is it just to keep the government running joining me now as one would brooks of public notice to discuss thanks for having so nice to have you here. so the debt ceiling was head on may nineteenth there hasn't been a lot of talk or discussions about...
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ceiling which would raise the debt ceiling cut spending and have tax reform i think it's dangerous to have tax reform in this debate and look in the first real cliff debate in january we are to raise taxes only raise taxes significantly so yes we need a huge debate out this time before and thank you so much this is one what brooks of public note and thank you. stay tuned because we take a hard about f. one hundred secretary treasury and fed chairman mandel larry summers you won't believe what he did when he was president of harvard and then prime interest producer bob inglis and i explored the lighter side of soldering that straight from the madison avenue state. of clear image of the rock to replace. twenty day taxi trip through the country. the road full of. clear evidence from north to south. the route of the rocky tragedy. after the war waiting for peace. talks e r t. more news today violence has once again flared up. these are the images the world has been seeing from the streets of canada. trying to corporations rule the day. do you think so. now when we talk about the revolving
ceiling which would raise the debt ceiling cut spending and have tax reform i think it's dangerous to have tax reform in this debate and look in the first real cliff debate in january we are to raise taxes only raise taxes significantly so yes we need a huge debate out this time before and thank you so much this is one what brooks of public note and thank you. stay tuned because we take a hard about f. one hundred secretary treasury and fed chairman mandel larry summers you won't believe what...
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ceiling which would raise the debt ceiling cut spending and have tax reform i think it's dangerous to have tax reform in this debate and look in the personal cliff debate in january we already raise taxes and we raise taxes significantly so yes we need a huge debate on iraq this time before thank you so much as one would brooks of public note i thank you. stay tuned because we take a harder look after her secretary of treasury and fed chairman man larry summers you won't believe what he did when he was president of harvard and then prime interest producer bob inglis and i explored the lighter side at that straight about madison avenue. a clear image of the iraq story a. twenty day taxi trip through the country. the road to. clear evidence from north to south. the route of iraqi tragedy. after the war waiting for peace. talks e t. download the official ati application to yourself choose your language stream quality and enjoy your favorites. if you're away from your television or it just doesn't matter how would your mobile device you can watch ati any time anyway. i. know when we talk
ceiling which would raise the debt ceiling cut spending and have tax reform i think it's dangerous to have tax reform in this debate and look in the personal cliff debate in january we already raise taxes and we raise taxes significantly so yes we need a huge debate on iraq this time before thank you so much as one would brooks of public note i thank you. stay tuned because we take a harder look after her secretary of treasury and fed chairman man larry summers you won't believe what he did...
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Oct 10, 2013
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to increase the debt ceiling for six weeks. where he was looked like intentionally squishy, to use a technical term on the issue of the government shutdown. we heard from republican leaders, talking to republican sources, and they made clear their position is that this whole debt ceiling idea is predicated on the fact that they will then immediately begin to sit down and talk and among the first things they will do in those bipartisan negotiations is figure out a way to reopen the government. when it comes to the government shutdown we might be in a chicken or egg situation, which is going to come first. those things have to be worked out. as jay carney was speaking, i spoke to a republican leadership source who is trying to clarify what exactly this so-called clean debt ceiling bill would be. i'm told, when looking at the actual legislative language, there is going to be one condition and that condition will be to take what are known as extraordinary measures away from the treasury secretary in order to do that the reason that
to increase the debt ceiling for six weeks. where he was looked like intentionally squishy, to use a technical term on the issue of the government shutdown. we heard from republican leaders, talking to republican sources, and they made clear their position is that this whole debt ceiling idea is predicated on the fact that they will then immediately begin to sit down and talk and among the first things they will do in those bipartisan negotiations is figure out a way to reopen the government....
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the debt ceiling is an absurd notion in a monetary system that's debt based and could you explain on the relevance of this we actually have a clip from your video and this is the latest installment that came out and it has to do with and it gives a great visual representation of the debt and currency side by side here it is. we don't go deeper into debt every year look what happens the whole thing goes into a deflationary collapse under the weight of those. can you comment on this deflationary collapse why and what are the mechanics of it how does it actually happen well this is the problem with the debt based monetary system as long as you take on more debt then you've got growth and you've got slightly positive inflation and the whole thing works but the problem is that the powers that be the federal reserve other central banks they think that they can control this mechanism but it's really controlled by how the public feels if the public gets scared and stops going deeper into debt borrowing and spending all of the time then this whole thing goes into reverse it goes into a deflat
the debt ceiling is an absurd notion in a monetary system that's debt based and could you explain on the relevance of this we actually have a clip from your video and this is the latest installment that came out and it has to do with and it gives a great visual representation of the debt and currency side by side here it is. we don't go deeper into debt every year look what happens the whole thing goes into a deflationary collapse under the weight of those. can you comment on this deflationary...
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ceiling which would raise the debt ceiling cut spending and have tax reform i think it's dangerous to have tax reform in this debate and look in the personal cliff debate in january we already raise taxes and we raise taxes inefficiently so yes we need a huge debate on how to perform thank you so much this is what brooks the public and i thank you. stay tuned because when we take a harder look after her secretary treasury and fed chairman a front man away from earth you won't believe what he did when he was president of harvard and then prime interest producer bob inglis and i explored the white house side of sovereign debt straight from the madison avenue state. wealthy british soil the sun. spot on to the tirelessly. cardinality. markets why not. find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines tune into cars a report on. the eve. of the. now when we talk about the revolving door we often think about it shuttling people between washington and wall street but today we're going to highlight another s
ceiling which would raise the debt ceiling cut spending and have tax reform i think it's dangerous to have tax reform in this debate and look in the personal cliff debate in january we already raise taxes and we raise taxes inefficiently so yes we need a huge debate on how to perform thank you so much this is what brooks the public and i thank you. stay tuned because when we take a harder look after her secretary treasury and fed chairman a front man away from earth you won't believe what he...
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Oct 13, 2013
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the debt ceiling deniers need a dozen debt ceiling reality and you have given them that today. you have said prioritization is default by another name. prioritization is extremely difficult, as you have said. do we pay foreign debts or veterans benefits? do we make sure social security benefits go out or pay medicare, do we pay for education or our troops? american people don't want that. they would want us to pass a clean debt ceiling bill and avoid those awful choices. i would like to talk about the other -- by the way, one of these debt ceiling deniers, a congressman named brown, he said that much of what he learned in medical school relies that came from the pits of hell. if we are letting people like this lead us, god save america. i would like to deal with the second issue which is the timing. in my view, we are like a blindfolded man walking towards a cliff and if we keep walking in that direction, very soon, we will fall off. we may fall off on october 16 or october 17 or are over 25 or november 1 but we will fall off. the most interesting -- the most important point is
the debt ceiling deniers need a dozen debt ceiling reality and you have given them that today. you have said prioritization is default by another name. prioritization is extremely difficult, as you have said. do we pay foreign debts or veterans benefits? do we make sure social security benefits go out or pay medicare, do we pay for education or our troops? american people don't want that. they would want us to pass a clean debt ceiling bill and avoid those awful choices. i would like to talk...
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Oct 11, 2013
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the debt ceiling is reached. the government would immediately have to slash it be 20 or 30% to drive the nation back into reception. >> the pain will be felt across very sector of society, social and veterans' benefits would be slashed. every government plam be devastated by deep cuts. families will feel it at firsthand with dramatic drops in their retirement savings, homes would be lost. interest rates on mortgages and student loan would soar. we could pay at bond holders and interest on the debt. but they fail to mention this game would force the treasury to pick and choose which programs to pay, forcing vital programs like social security, medicare to complete for funding. his idea is just irrational. the fault would have a catastrophic impart on the economy as well. he warned that the fault would have barren consequences for the economy. chris steen lagarde said it is mission critical the debt limit be se solved as soon as possible. this is serious. the whole world is watching. our actions here in the next co
the debt ceiling is reached. the government would immediately have to slash it be 20 or 30% to drive the nation back into reception. >> the pain will be felt across very sector of society, social and veterans' benefits would be slashed. every government plam be devastated by deep cuts. families will feel it at firsthand with dramatic drops in their retirement savings, homes would be lost. interest rates on mortgages and student loan would soar. we could pay at bond holders and interest on...
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is it a clean debt ceiling? does john boehner put that on the floor and walk out of speakership as some conservatives suggested? nobody really knows how this -- david: liz claman, you brought up a fascinating point with him, he did work with tip o'neill. he was tip o'neill's right-hand man during a time when congress and presidency disagreed. they were totally at loggerheads, yet those two gentlemen, tip o'neill, head of the congress and ronald reagan who was president managed to find compromises on taxes, on spending, on regulation, on defense, on a whole slew of things because they both were willing to talk and both were willing to give in and both thought better of each other despite their differences. it is that kind of agreement, that kind of agreement to begin a discussion which we have not yet seen from either side. liz: and that's a great point too because when i ran into governor 2078 ridge, a republican who also served in the congress, he said to me, you know what i think this is? back then bob dole, r
is it a clean debt ceiling? does john boehner put that on the floor and walk out of speakership as some conservatives suggested? nobody really knows how this -- david: liz claman, you brought up a fascinating point with him, he did work with tip o'neill. he was tip o'neill's right-hand man during a time when congress and presidency disagreed. they were totally at loggerheads, yet those two gentlemen, tip o'neill, head of the congress and ronald reagan who was president managed to find...
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Oct 10, 2013
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well, the debt ceiling deniers -- debt ceiling rails and you've given them that today. basically you said, or think just about these words, you said prioritization is to qualify under the name. prioritization is extremely difficult, as you said. he would pay for this or veterans benefits? to remake social security benefits go out, or pay medicare? do we pay for an education? do we pay our troops? american people don't want that. they would certainly want us to class a clean debt ceiling bill and avoid those awful choices. but i would like to talk about the other and by the way, one of the debt ceiling to there's i read in the nea near-term, congressman named brown. he also said that much of what he learned in medical school were lies. they came from in his words the pits of hell. if we are letting people like this lead us, god save america. now, i'd like to deal with the second issue, which is the timing. in my view, we are like a blindfolded man walking towards a cliff. if we keep walking in that direction, very soon we will fall off. we may fall off on october 16. we
well, the debt ceiling deniers -- debt ceiling rails and you've given them that today. basically you said, or think just about these words, you said prioritization is to qualify under the name. prioritization is extremely difficult, as you said. he would pay for this or veterans benefits? to remake social security benefits go out, or pay medicare? do we pay for an education? do we pay our troops? american people don't want that. they would certainly want us to class a clean debt ceiling bill...
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Oct 6, 2013
10/13
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ransosom get to demand for doing your most basic job. >> congress passed the debt ceiling in 1917. the problem? congress decides how much money is spent, so the law limits the government possibility to pay its debt. is davis warns that it countries like china that now own a good portion of f u.s. det through bonds. >> you pay china off before you pay off your social security recipients. defaults, the treasury department warnrns the credit markets could freeze. the value of the dollar could plummet and interest rates could skyrocket. washington business later say that congress should rein in debt say that congress should rein in debt. >> we need to put in plans in ththe fure to get is rolved. in the greater washington area we are taking a h hit. >> theusiness community coinues in dage control mod in washington, wondering how long it can last and what they can do toessen the imimpact.. we have a pel. oday, president d ceo o of the greater washihingtn board of trade, ceo of t the d.. , andf commerce maging director at guggeeim securies. welcome tto yoall. barbar lete start with you ho
ransosom get to demand for doing your most basic job. >> congress passed the debt ceiling in 1917. the problem? congress decides how much money is spent, so the law limits the government possibility to pay its debt. is davis warns that it countries like china that now own a good portion of f u.s. det through bonds. >> you pay china off before you pay off your social security recipients. defaults, the treasury department warnrns the credit markets could freeze. the value of the...
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Sep 25, 2013
09/13
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on the debt ceiling, he's the president of the united states, he can't allow a debt ceiling and he certainly can't allow a debt ceiling increase to not take place because he's fighting to protect members of congress from implementing -- from the implementation of his own law that he says is good for everybody. >> that's the point. republicans have planted their flag in a place that the president cannot and will not go. maybe he'd agree to the medical advice tax being lifted. but he will never agree to, for instance, delaying the individual mandate or defunding obama care. he can't and he won't. that's the problem here. but the white house has always said it will negotiate on the budget. it just won't negotiate on the debt ceiling. of course there are going to be negotiations and they're going to lead to hopefully a resolution on the debt ceiling. they're just not going to be about the debt ceiling. >> planting the flag on the senate floor for more than 21 hours, more with the panel, we'll start with charles when we come back. [ male announcer ] making a dodge in 100 easy steps. step 1 -- stu
on the debt ceiling, he's the president of the united states, he can't allow a debt ceiling and he certainly can't allow a debt ceiling increase to not take place because he's fighting to protect members of congress from implementing -- from the implementation of his own law that he says is good for everybody. >> that's the point. republicans have planted their flag in a place that the president cannot and will not go. maybe he'd agree to the medical advice tax being lifted. but he will...
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Oct 11, 2013
10/13
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the debt ceiling deniers need a dozen debt ceiling reality and you have given them that today. you have said prioritization is default by another name. prioritization is extremely difficult, as you have said. do we pay foreign debts or veterans benefits? do we make sure social security benefits go out or pay medicare, do we pay for education or our troops? american people don't want that. they would certainly want us to pass a clean debt ceiling bill and avoid those awful choices. i would like to talk about the other -- by the way, one of these debt ceiling deniers, a congressman named brown, he said that much of what he learned in medical school relies that came from the pits of hell. if we are letting people like this lead us, god save america. i would like to deal with the second issue which is the timing. in my view, we are like a blindfolded man walking towards a cliff and if we keep walking in that direction, very soon, we will fall off. we may fall off on october 16 or october 17 or november 25, but we will fall off. the most interesting -- the most important point is we
the debt ceiling deniers need a dozen debt ceiling reality and you have given them that today. you have said prioritization is default by another name. prioritization is extremely difficult, as you have said. do we pay foreign debts or veterans benefits? do we make sure social security benefits go out or pay medicare, do we pay for education or our troops? american people don't want that. they would certainly want us to pass a clean debt ceiling bill and avoid those awful choices. i would like...